AKK! just lost a huge post because of an errant click. No auto save or anything like that I guess? Ok, Here goes again. Just got shot down trying to do some "foot-work". Thought I was really flying along and decided to start my network list when I called a friend of mine who is a Mortgage Broker. Figured I pre-qualify myself since my credit score has improved to a decent rating. Well,a conventional loan is way out of the question for me and I think I was pretty much expecting what I heard from my friend, but to actually "hear" it!..... Not only that, through all the questioning that, of course has to be asked, I could sort of sense a "you must be crazy wanting to do what you are doing" kind of attitude on the other side of the phone. My friends'(Mortgage Broker) wife is a realtor and thinking maybe I could get her to send me some info on foreclosure and or REO property he pretty much told me that they don't bother with that because it is waaay too expensive and time consuming to be involve with and not only that- only people with a LOT of MONEY and a LOT of TIME can be involved with that stuff, so, asking that really made me feel foolish. I am really going to have to stay close now and keep focused because information like that, comming from "professional" people is devastating. I know Dean covers all this and I have read about it but actually confronting it in the "real world" shook me up. I think that is what discouraged me the first time I tried this in 1992 with another organization. I didn't tell anyone though and just gave up. I am not going to do that this time! Ahh.... there, ok, I feel a little better but if I can get a little support here(sympathy...EMPATHY? yeah, that's it!) please feel free:)Tonight I go to my first meeting of the real estate investors club I joined here- the monthly meeting. To be honest though, I am feeling pretty self-conscious at this point so I'm not sure if I should even show up. Almost feel inside that somthing might happen to me like in "Carrie" Yeah, but that's how my brain works?! A lot to overcome I guess? I will put on my best face and do my best. I made the commitment. I won't quit like last time! "I will do the work and not quit". Ok Thanks all, and thanks Dean. Just keep moving ahead eh?
The learning curve
Posted on: Fri, 01/06/2012 - 02:24
I hope you are marketing, passing out business cards every day, Telling everyone what your doing, doing some bandit signing to get the phone ringing to talk to some folks about real estate, learn to find a motivated seller, get the contract signed, then sell the property to someone on your buyer list. It all starts with marketing and taking action+knowledge=success $$$$ in the bank. Marketing is the glue that holds the whole thing together, without you have no business, think bout it, take action today, start marketing your self.....Just do it............John H.
"Action and Mistakes" always-outweigh "Analysis Paralysis"
http://www.linkedin.com/pub/john-hoening/23/2a3/164
"Action+Knowledge=Success....$$$$$$$$$........Just do It"
www.WeFlipDesMoines.com http://facebook.com/desmoinesinvestmentproperties
www.iowarealestateflipper.com
Hey John!
I never got that far. Just talked to my REI coach this morning and basically he said the same thing-only different. Since doing the lessons and getting ahead of myself, I have lined up readu and willing "buyers" pre-qualed" over the phone but basically "shovel ready". I am working on meeting a Realtor tomorrow to add her to my "power team". Found her through a reference from another investor I contacted through the assignments at the PMI education center.I did a Mat larson pre-qual and am really excited to meet with her as she "checked out". A "broker" who I met earlier through a chance visit to "RealtyTrak" (foreclosure specialists web site) turned out to be just plain SCARY. Due dilligence and a little slower pace is sometimes a good thing. Anyway, just through the grapevine, I have two situations so far that seem very prommising. It is way complicated and I will need the help of a professional. I know this is "Real Estate", but I have a distressed business, a distressed commercial property, and distressed vacation rental property that was supposed to be a quick flip back in the day (Boom days) and has been listed for over 3 years with minimum to no bites, is not renting out due to "slug" property management and just neglect and disinterest from the owners. Right now it has been vacant for over a year and the owners are borrowing from the busines to pay the mortgage. I found what is owed. The improvement construction loans are paid off and all thats needed is some REAL comps. I know just from what is now left on the mortgage - there is quite a bit of equity in the property. I will try to find time for that other stuff you mentioned but geez- my "day job" is booming, I have clients I really can't put off, and I am getting to bed at 12 midnight or later as it is. I have NEVER EVER benn as busy in my entire life. Busy that is, with trying to accomplish worthwhile "goals". This "program" is about REI, I agree, but so much more is happening for me that is JUST as incredible as closing that first deal. Tomorrow morning I am meeting with another investor who I helped back in 05-06 aquire properties that he has to this day. 15 and counting I think. It's my turn now! Thank you for your input John! You are absolutely correct. Absolutely! This is what I do now every chance I get( what you mentioned) and this is the result! Completely blown away! - three weeks into membership here!????
Man, I am beat. I'm turning in, no midnight oil tonight. Thinking about this stuff is excitng, but there is almost too much going on. Better get some shut eye.
Just got finished entering a blog, but I want to record what I wrote there, here. After meeting an old friend who is an accomplished REIer, I am getting closer to actually doing "deals". ( Today, I got squared away with a mentor, have an appointment to see an REI friendly Realtor on Saturday, and just put in a bid for a good size irrigation job for my "day job"). All the infrastucture work is really getting me closer, and I can see how good preparation is a key to success. I know that at some point you just have to jump in and get your hands dirty, but this is just me I guess. Not worried about it at all. This "work" in between is fun as heck, and I am really enjoying this new way of living. Just about all aspects of my life has changed for the better, and just because Dean has gotten me serious about this line of "work". So OK, I know, enough about the "life changing" experiences. I don't think I will enter any more blogs or journals until I am actually in the middle of a "deal". Or something really siginificant to do with me wanting to be here, or a serious public question comes up. Thanks for your support, will talk to you soon!
Aloha!
Lester
Lots have happened in a week since the last post. I lost a Real Estate Agent but gained a buyer for my list. Actually, another investor that I hope to "bird dog" for. Also getting a feel for siffing out the "killer" deals. I had a chance to get a feel for going through the whole process of an REI deal. This was not as obvious as the others I had gone through before and was actually quite complicated. I learned a lot however. I got more experience in talking with people - people skills I guess for a lack of a better definition. Going through the pre qual for the property, getting a Realtor on board, actually meeting with one of the investors. Not all the pieces are in place but I am moving ahead anyway. In the middle of getting the story on a few properties I have found. Just been sooo busy with other stuff. I really wanted to be able to do this "full time", but that is a luxury I think for me right now. Attended the local DG REI seminar here. Almost decided to hang this up. I was really disappointed and disillusioned. In fact, I commented to the support staff email and still haven't gotten a reply. Call, email 0. I'll talk about it to my "coach" tomorrow morning.
Aloha!
Lester.
1) start a blog, you'll feel better
2) go to every meeting and event that you investment club has
3) no professional would have treated you that way
4) poster was right, either get rid of that person or don't talk
RE with them
5) someone on this site said if people don't laugh at your dreams
you are not dreaming big enough
" The only difference between me and successful people is they started before me."
by Shane
Getting a lot done since the last post. That first "one" is being "ellusive", but really, I know it is only because of the effort I put in. So in that case, I know it is only around the corner. Really busy taking care of the "other" parts of my life right now. REALLY BUSY! Am I making excuses for not having a deal done by now? I don't know? Started the beginning of January here. Just about two months into it. The property deal hasn't happend yet, but geez, my life has been unrecognizable. I am in disbelief of the person that I am turning into. If not a property deal my regul;ar day job is really taking off! Because of the "networking", because of the nature of my work,and because of all the people I come in contact with before/during/and after work, I may not be actively working a deal right now (who knows? In actuality, one may be in the works) Because of all this, I have a very rich social life now, "success", as I would have defined it when I started this, means something totally different to me now. It is only because of the focus of what we are doing here (REI) that the "property" thing is a major "goal" and a milestone of achievment that marks the progress made for the thing that got me to sign up in the first place. Guess what I am saying is that so much other stuff has happened, and is happening for me, that I would have to say that whatever it is that got me to sign up with you all here was a catalyst to a complete change in my life. A change that I have really been after for just about all of my life. It has really helped me to "grow up". Things that were important to me forever are now "just not really that important anymore". Huh.
Oh, and by the way.... Thank you to all of you who check in here and leave whatever commnets you do. Thank you! This takes some time and if you are as busy as me, and I know for a fact, that if you are part of this, you too are busy taking care of business/life/REI/whatever. It is a big thing for me that you take some of that "time" to give input into my life. A really great bunch! Well, coach will be calling in a moment.. Thanks!
Wednesday morning during my confrence call with my PMI coach, my dad had a massive stroke. I'm sort of in a kind of shock right now. Two things were happening at the same time - very confusing- to the brain/emotional/nerv. system. One one hand, the call I was on was really a life changing experience. A sort of resuscitation from my own form of motivational "heart failure". On the other, there was my poor dad. Life is so very very strange. One thing I know for sure. There ARE people out there who care, and will help. I am going to do my best to be able to reciprocate and become like them.
Been away for a bit. Trying to get through this and I know I will, just may take some time. How much? THAT is the question that does not seen, will ever be answered. Pretty tough. I've managed to keep doing some REI stuff, in spite of all the upset that goes with a death in the family. Really did quite a lot actually despite with what is all gone on. Made an offer - actually was setting up a "bird dog" sale. Got together with an investor and his partner regarding getting together for future work, and generally keeping my eyes and ears open for potential leads and have even met a couple of Realtors that are most definitely "investor friendly". So, the clock still seems to be ticking, although I have nothing but the full support and empathy from my PMI coach. I think the hardest person I am dealing with is me. Since my dad passing I just can't seem to get any motivation going for the day. I have had, and have, the greatest support. Its just me. Ah well, life goes on. I know I will feel better eventually and whoever said "feeling good" was a constant and guaranteed for life anyway?
PS - Thank you for reaching out and your support!
Lester, my thoughts & prayers are with you.
Just remember that real estate will always be there whenever you are able to get involved with it. Take the time that you need for yourself now, jump back into the game when you're ready and able.
Don't worry about the Success Academy either, worry about yourself.
My 1 yr refund window will close in May but it took me this long to realize that I can recoup all my money on my first few deals, if not the first one.
One day at a time.
Take Care!
Mark K.
Life Disclaimer: Past Failures are NOT indicative of Future Results.
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